📈 Stocks / Finance

Gold hits record high as stocks falter ahead of U.S. election

Reuters

Global stocks fell as traders remained cautious due to rising geopolitical tensions and uncertainty over the upcoming U.S. election. Gold surged to a record $2,738.9 per ounce, while Brent crude rose 1.68%. The S&P 500 and Dow ended lower, and the dollar index gained 0.49%.

Redfin shares drop as analysts maintain hold ratings

MarketBeat

Redfin shares opened down 3.4%, last trading at $10.32 with a volume of over 5 million shares. Despite mixed analyst ratings, Redfin's Q2 earnings outperformed estimates by $0.03. The company’s market cap stands at $1.23 billion, with a -8.70 PE ratio and beta of 2.68.

KKM Financial converts Essential 40 fund to ETF amid trend toward tax efficiency

CNBC

KKM Financial has transitioned its Essential 40 mutual fund into an ETF, aiming for greater tax efficiency. The ETF, trading under ticker ESN, includes JPMorgan Chase and Amazon, among others, and offers an equal-weighted approach. In 2024, the fund was up 16% YTD.

🪙 Crypto

European investors fuel record $105B inflows into US Bitcoin ETFs

Cointelegraph

European investors have poured over $105 billion into US spot Bitcoin ETFs year-to-date, marking an all-time high, according to Bloomberg’s Eric Balchunas. Despite these record inflows, Bitcoin remains under $70,000, with analysts attributing the lag to delayed market effects.

🌎 Global Economy

Resurgence of Industrial Policy Raises Questions About Global Impacts

Econofact

Industrial policies are on the rise globally, with over 4,000 trade-distorting measures implemented between 2023 and 2024. Major economies, led by China, the EU, and the U.S., aim to boost resilience and green transitions. However, these policies risk resource misallocation and political capture, requiring careful design and governance.

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